Washington Trust Bancorp Reports 21% Surge in Third-Quarter Net Income to $19.4 Million
Washington Trust Bancorp, Inc. (WASH) reported third-quarter 2026 net income of $19.4 million, or $1.01 per diluted share. Profit increased 21% from the previous quarter and was up $8.5 million compared to the third quarter of 2025. Total deposits reached a record high of $5.4 billion as of September 30, 2026, while total loan balances rose to $5.2 billion.
The quarterly earnings growth was driven by higher net interest income, which rose 7% sequentially to $44.7 million, and expanding profit margins. Net interest margin grew 11 basis points from the prior quarter to 2.84%, aided by interest collections following the resolution of a $22.3 million commercial real estate office loan. Noninterest income also increased 9% to $19.3 million, supported by commercial derivative gains and bank-owned life insurance income.
Investors will be watching how the bank maintains its interest margin and loan growth in upcoming quarters. Washington Trust projected a full-year 2026 effective tax rate of approximately 21.5% and scheduled an investor conference call for October 20, 2026, to discuss its broader financial outlook.
Key points
- Washington Trust Bancorp earned $19.4 million, or $1.01 per diluted share, in Q3 2026, up 21% from the second quarter.
- Total deposits reached an all-time high of $5.4 billion at the end of the quarter, up $77.1 million from June 30, 2026.
- Net interest margin expanded by 11 basis points to 2.84%, while net interest income grew 7% to $44.7 million.
- The bank resolved a $22.3 million commercial real estate office loan, returning $18.5 million to accruing status while charging off $3.8 million.
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What were Washington Trust Bancorp's Q3 2026 earnings results?
Washington Trust Bancorp reported Q3 2026 net income of $19.4 million, or $1.01 per diluted share. Profit increased 21% from the preceding quarter and net interest income rose 7% to $44.7 million.
How much did Washington Trust Bancorp hold in deposits in Q3 2026?
Total deposits reached an all-time high of $5.4 billion at the end of the third quarter, representing an increase of $77.1 million from June 30, 2026.
What was Washington Trust Bancorp's quarterly dividend for Q3 2026?
The bank declared a third-quarter dividend of 56 cents per share, which was paid on October 9, 2026, to shareholders of record as of October 1, 2026.